In a report released on February 27, Andrew Berens from Leerink Partners maintained a Buy rating on Tango Therapeutics (TNGX – Research Report), with a price target of $10.00.
Andrew Berens has given his Buy rating due to a combination of factors that highlight the potential of Tango Therapeutics. The company recently reported promising efficacy data for its TNG462 treatment in cholangiocarcinoma, showing a higher response rate compared to competitors. This positive outcome, although lacking data for other significant cancer types like pancreatic and lung, sets a strong foundation for future updates, which are anticipated to focus on these larger markets.
Moreover, Tango Therapeutics is planning to expand its clinical trials by initiating multiple combination studies with other promising treatments, which could enhance the efficacy of TNG462. The company’s financial position is robust, with sufficient cash reserves to support operations into the third quarter of 2026, providing a stable backdrop for its ambitious pipeline developments. These strategic initiatives and financial stability underpin Berens’s confidence in the stock’s potential growth, justifying the Buy rating.
In another report released on February 28, Barclays also maintained a Buy rating on the stock with a $13.00 price target.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TNGX in relation to earlier this year.